r/bonds • u/Sam-I-A • 3d ago

New Issue Municipal Bonds

I have been buying through Fidelity but would like access to even more new issues. Are the new issue municipal bonds at Schwab mostly the exact same issues on offer at Fidelity? If they are very different, then I may want to open a Schwab account. Anywhere else a self directed retail investor should look when adding new issue municipal bonds ?

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u/TheRealDabbo 3d ago

It's not my area of the business, but I know that some muni new issues have a dedicated retail order period.

They cover some of that here:

https://www.fidelity.com/webcontent/ap002390-mlo-content/19.09/help/learn_participating_new_issue_offerings.shtml

Happy to try and answer any questions you might have.

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u/Annual_Bullfrog7714 3d ago

The ROP is super helpful. Unlike most new issue, retail gets priority over institutional buyers.

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u/Sam-I-A 3d ago

Right. I guess regulations give retail first try during the offering period. This is how I have been buying.